Cost of a funeral

Protection for your family

None of us like to think about our funeral but leaving loved ones with a large funeral bill isn’t something that any of us want to do and taking the time now could help your family at a very difficult time. That’s why many people choose to take out over 50s life insurance to help cover some of the funeral costs.

Rising funeral costs

Most people underestimate the cost of a funeral and so you may be surprised just how much it can be. Our research has shown that the average cost of a basic funeral in the UK is £2,622* and this figure is expected to increase by almost £2,000 in the next 10 years to £4,595 by 2019**. 

However, this does not include personal touches such as:

• church service
• flowers
• funeral car for your family
• newspaper notices
• catering

Our research on funerals shows that this could push the average cost of a funeral up to as much as £3138***. 

When taking out cover such as the 50 Plus plan from LV=, it is important to make allowances for the increase in the cost of living. Your cover is fixed and the lump sum you select now won’t be worth as much in the future.

The average cost of a funeral

* Source: Mintel Report, January 2007, updated 2009.
** Source: LV= cost of a funeral research – Consensus Research, September 2009 (based upon a sample of UK Funeral Directors).
*** This is based on a projection in the current rise of funeral costs over the past 10 years, using a yearly rate of 5.77%. Please be aware that this is only a projection based on the LV= cost of a funeral research – Consensus Research, September 2009 (therefore this figure could increase or decrease based upon market conditions).

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